COURTESY: SteelAsia Manufacturing Corporation
SteelAsia Manufacturing Corporation has made waves by achieving something unprecedented in the Philippine steel industry. Through its Davao mill, the company shipped 14,200 metric tons of high-strength steel bars worth USD 8.8 million (Php 511.24 million) to Canada in October 2024. This marks the first time the Davao mill—or any steel mill in Mindanao—has exported steel products, setting a new benchmark for the industry.
This shipment represents a significant breakthrough, not just for SteelAsia but for the whole Philippine steel industry. The Davao mill's entry into the Canadian market highlights its ability to meet stringent quality standards required by First World countries. SteelAsia Chairman and CEO Benjamin Yao expressed pride in this achievement, emphasizing the role of cutting-edge technology in elevating local steel products to global standards.
The latest shipment is the seventh export of rebars for Canadian infrastructure projects, but it’s the first from SteelAsia’s newly accredited Davao mill. The previous six shipments originated from SteelAsia’s Batangas mill, totaling more than 41,400 metric tons of rebar worth USD 27.32 million (Php 1.58 billion). With the Davao mill now entering the export scene, the overall delivery to Canada has surpassed 55,600 metric tons of steel, valued at USD 36.12 million (Php 2.1 billion).
The success of these exports underscores SteelAsia's growing influence in the international market. The company’s strategy of leveraging advanced technology and maintaining rigorous quality standards has paid off, opening doors to new opportunities and markets. The Davao mill’s achievement serves as a testament to the potential of Philippine steel to compete on a global stage.
In addition to its recent success, SteelAsia’s Davao Works is poised to continue its export journey with an order for over 30 thousand metric tons, valued at approximately Php 1.2 billion. This upcoming shipment is expected to surpass the deliveries from the company’s Calaca mill. The Davao mill's ability to consistently meet international demands is a promising sign for future exports.
SteelAsia’s focus on innovation and quality not only boosts its competitive edge but also contributes to the growth of the Philippine manufacturing sector. The company’s achievements are paving the way for the local steel industry to establish itself as a key player in the global market.
SteelAsia’s Davao Works is one of its five rebar mills, making it one of the largest rebar manufacturers in Southeast Asia. The company’s latest mill, inaugurated in Compostella Cebu in July, further exemplifies its expansion efforts. President Ferdinand Marcos Jr., who attended the inauguration, highlighted SteelAsia's crucial role in the country’s socio-economic transformation.
Over 70% of all infrastructure, housing, power, industrial, and other developments in the Philippines use SteelAsia rebar. This statistic underscores the company’s indispensable role in the nation’s growth and development. As SteelAsia continues to break new ground, its influence is set to grow, both locally and internationally.
In conclusion, SteelAsia’s successful export of steel bars from its Davao mill to Canada marks a significant milestone for the Philippine steel industry. This achievement is a testament to the company’s commitment to quality, innovation, and global competitiveness. As SteelAsia continues to expand its reach, the future looks bright for the Philippine steel industry, with more opportunities and successes on the horizon.
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